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Understanding Demand in Economics Quiz

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What does the concept of demand in economics imply?

Desire, ability to purchase, and willingness to buy (correct)

Desire and ability to purchase

Willingness to buy and ability to purchase

Desire and willingness to buy

When does desire for a commodity constitute demand for it?

When backed by purchasing power and willingness to purchase (correct)

When the person desires the commodity for a specific period of time

When the person really wants the commodity

When the person has the ability to purchase the commodity

What is the influence of demand for a good in general?

Influenced by the market price

Influenced only by willingness to purchase

Influenced by several factors (correct)

Influenced by desire and purchasing power

What does demand for a commodity represent?

<p>The amount a consumer will purchase at a given price during a specific period</p> Signup and view all the answers

What is not considered as demand in economics?

<p>Willingness to buy at a high price</p> Signup and view all the answers

Understanding Demand in Economics Quiz

Choose a study mode

Podcast

Questions and Answers

What does the concept of demand in economics imply?

When does desire for a commodity constitute demand for it?

What is the influence of demand for a good in general?

What does demand for a commodity represent?

What is not considered as demand in economics?

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